GEN – I responds to HEP with additional price reductions

The company GEN-I today announced an additional reduction in electricity prices for households as part of its Cheap Electricity offer.

 - The new prices are still 10 percent lower compared to the new prices of HEP, confirming GEN-I’s promise to always be the most favorable on the Croatian market – the company states.

As they explain, with the additional price reduction, GEN-I remains far cheaper than HEP. From October 1, the level of savings for users of Cheap Electricity in the household segment will be almost the same as before HEP’s announcement of price reductions. Households will achieve significant savings if they switch to GEN-I, as, for example, a household that heats with electricity this winter will be able to save nearly 20 percent compared to last year.

 - We particularly emphasize that HEP has again not announced a reduction in electricity prices for small entrepreneurs who continue to pay high prices, while GEN-I has guaranteed savings of up to 30 percent for small entrepreneurs since its entry into the market – the company states.

 - We welcome the decision of the Croatian Energy Regulatory Agency (HERA) as it is a good decision for all users in Croatia and confirms our claims that the price of electricity in Croatia is extremely high and that there is much room for its reduction – commented the CEO of the GEN-I Group, Dr. Robert Golob, on HEP’s announcement of electricity price reductions, and continued: ‘This is great news for Croatian consumers, and even better news is that GEN-I is now offering even lower prices, remaining 10 percent cheaper than HEP.’

 - As we promised, we decided to further reduce our own prices in the Cheap Electricity offer because we want to remain the cheapest electricity provider in the market. This is a position we hold in all markets where we operate, and we believe that users will appreciate it. Since we started reducing prices in the Croatian market, I believe we have best demonstrated the benefits of Croatia’s entry into the European Union and the adoption of European standards in Croatia – concluded Dr. Robert Golob.

GEN-I Zagreb has received more than 12,000 inquiries for changing electricity suppliers, supplies more than 4,500 consumers with Cheap Electricity, and offers all new users who sign a contract by the end of October free electricity for the first month of use again. This special benefit, they emphasize, has been automatically extended to those who signed a contract with GEN-I Zagreb during August.

The policy of the lowest electricity prices without contractual obligations by GEN-I Zagreb is based on the guarantee that prices will not increase until the end of 2015, committing the company that maximum prices will not rise until January 1, 2016, but there is only the possibility of their reduction.